“Both the IRS and DOL comment that improperly completed Form 5500s will increase the probability that they may take a closer look at plan matters. This article includes a short list of considerations and questions aimed at helping plan sponsor employers avoid government investigation otherwise prompted by a ‘wrong’ answer on the Form 5500.” [[…]

“Notwithstanding that the right to convert to an individual insurance policy had long since expired, the court crafted a remedy under ERISA that imposed a surcharge on the employer equal to the $750,000 in life insurance that the physician employee would have elected to convert to an individual policy but for the plan administrator’s breach […]

“Maine faced similar challenges in 2011 as it sought to unwind failed experiments that pushed its market into a long-term death spiral. But by creating an invisible high-risk pool and relaxing its premium rating bands, Maine policymakers were able to cut premiums in half while still guaranteeing those with pre-existing conditions access to plans…. Maine’s […]

“We’re facing a landscape where the complexity of COBRA remains a part of every employer’s benefits program while the ACA gets a makeover from the Republican White House…. Most likely, it just means that the majority of employers will continue to outsource COBRA administration. It also could mean eligible employees go back to just having […]

The IRS has issued guidance on the rules for disposing of unused funds in a cafeteria plan where the plan’s sponsor discontinues its business operations. In Information Letter 2016-0077, the IRS responds to a taxpayer’s inquiry by confirming that the unused funds will not revert to the U.S. Treasury but are instead disposed of in […]

“Anxiety disorders lead to an average of 4.6 work days lost to disability per month and 18.1 work days lost to disability per 3 months, as well as an average of 5.5 work days of reduced productivity per month … For every $1 invested in treating depression and anxiety, there is a $4 return for […]

“The Justice Department has joined a California whistleblower’s lawsuit that accuses insurance giant UnitedHealth Group of fraud in its popular Medicare Advantage health plans …. The whistleblower has accused the insurer of ‘gaming’ the Medicare Advantage payment system by ‘making patients look sicker than they are’ said his attorney … The attorney said the combined […]

The IRS has announced that it will not reject 2016 tax returns that do not provide information on whether the individual taxpayer and his family members had qualifying health coverage for 2016. The IRS uses this information to enforce compliance with the Affordable Care Act’s (“ACA’s”) individual mandate provisions. This enforcement policy change comes in […]

“Employers can contribute toward curbing the opioid addiction epidemic in a number of ways and should play an instrumental role in facilitating increased awareness of and access to needed programming…. This article will explore the size and prevalence of the opioid epidemic, reflect on its implications for employers — including public policy initiatives — and […]

“Despite the President, the Executive Order, what your friend said, etc. ALEs still must complete forms … [2] Deadlines: Employee statements (March 2, 2017) then statements to IRS (March 31, 2017 if filed electronically) … [3] Each ALE member must file its own Form 1094-C … [4] All 12 months on line 14 must be […]

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ERISAPros, LLC is an industry-leading professional services firm located in Atlanta, Georgia specializing in developing ERISA Wrap Welfare Benefit Plans. Our system of preparing Plan Documents, SPD wrappers, and Form 5500s is based on industry best practices.